Member Info for Jiving

Cathy has attempted to spin the deliberate failure to post the February report in a number of ways:

1. That its 'not a big deal really' - actually it is, why have they not filed the February report when they have correctly filed every single monthly report 14 times within the 5 working day period given by the CSE?

2. It's been 'forgotten' or 'overlooked' well its not previously been 'forgotten' 14 times in a row - so why now? Also the failure to file the February report has been actively discussed on this forum for some 48 hours now - Cathy knows about it, the CSE knows about it, of course Arthur & COPL know about it - but no filing Thursday & no filing Friday! So its not an accidental decision not to file but a deliberate one.

3. 'Its a small fine'. So what, it doesn't matter whether the fine is C$25 a day, C$250 a day or C$2500 a day - the company has decided (for whatever reason) not to file & to pay the daily fine for non compliance instead. Why? And why are they being allowed by the CSE to get away with it?

4. Whats the motivation? This of course is the crux of the matter - is it positive because a complex deal is forthcoming or is it negative because bankruptcy is forthcoming (Bonum was actually correct in pointing out COPL money ran out in November what is the company surviving on - no answer). My hunch - for what it is worth - is the former, but really who knows & isn't that why the CSE demands monthly reports so investors are informed of whats going on & isn't it time the CSE did their job & forced out the February report?

So even though everybody connected with COPL (COPL, Cathy, CSE) has now known for at least 48 hours that COPL has not filed their February Monthly report - now 5 days overdue & it has still not been posted. Why - the 'forgot' & 'overlooked' options disappear when everybody knows, yet its still not posted & its not like its a difficult task - 30-60 seconds to update normally I reckon - see below. I have been through the 14 monthly reports that COPL has filed since it joined the CSE this is my summary:

1. The form itself is simple & is the same every month. 17 questions that usually receive exactly the same response every month. In 11 out of 14 submissions the content was exactly the same except for the input date & the reference month. ie normally it takes a secretary say 60 seconds to update the electronic form from the last saved one & then press 'send'. Unless there is a material change of course.

2. The only times the Monthly had different content reflected the two placings that took place in 2019 which were reported in Section 14 in the June & August 2019 Monthly's and referred to in the May 2019 Monthly.

3. All 14 Monthly reports were filed within the five working days required by the CSE. Of course its not a big deal or a complicated task - the internal counsel and/or PA would be responsible & a calendar can remind them each month its due.

4. It is now 5 days late, and its been discussed for 48 hours in a public forum & we know Cathy, the CSE & of course Arthur are all aware its due. So why not file, this is not an 'accident' this is deliberate, so why?

Great spot cn100 not been that small size on the 0.5 ask for a long time, and about 1/3 of where it was last night!

Now its not been posted before trading on the 4th day after the limit - which was Friday 7 February
"This Monthly Progress Report must be posted before the opening of trading on the fifth trading day of each month. "

EyeGuy nobody on this board has 'turned' on Suhail - the instant he started posting he started trashing LTH's. He is 100% to blame for whatever comes his way - he is an immature gobby prat.

The failure to file the monthly report on the Friday may have rung a bell with savvy investors in Canada. Hence the jump in buying on Monday in Canada. Investors who have witnessed this delay in other CSE listed small companies, may have read something into the delay & acted accordingly. So we may not be looking at a response to a 'leak' but a response to the filing exemption/delay.

cn100 I think this is potentially very relevant. Presumably you would potentially seek an exemption or delay in filing if the disclosure might harm an ongoing negotiation? The Form 7 is a standard format asking a series of pertinent questions which the company has to answer, usually with a 'None to report'. Questions 5,6 & 7 seem interesting from our current position. The latest filed on 7 January for December 2019 is here:https://webfiles.thecse.com/Form_7_-_Monthly_Progress_Report_-_December_2019.pdf?U0RPd0DkSrpLyTUZgwJpsamoB7vHVnPx

Well we just traded 10% of our share capital in the first 3.5 hours trading. Not seen that for a while. Be interesting to see Canada's reaction will be when they open.

The sudden rise in Canadian volume is interesting, particularly given these guys are buying at 0.27p whilst LSE investors are buying at 0.075p. "My bunny's nose is twitching"

And the last time XOP did over 2m volume was in May 2019 when it was 3m. Its just after 11.30 am Toronto time, ....

Bolton & MK thats my thought as well, the Canadian volume is small but potentially important as thats where the company is based & where leaks would originate. Investors are suddenly paying 4x the Uk price for a couple of million shares & MMs reduced the size on the 0.5 offer, why now?

But even 1m being taken at 0.5 CAN Cents = UK price of 0.29p or four times the UK price. Last time 1m shares traded was August 2019!

2020zioc - your thoughts & figures are pretty much in line with mine. I would love ZIOC to take an ongoing share in the mine & be a fantastic divi player for THE next 30 years - what a pension. But like you I just don't see the Chinese shouldering all the costs & leaving us to get half the overall long term profit, thats just not how they operate. IMO they will want 100% of the asset (minus Congolese % which I believe is 10%). AT seems on a roll at present.

Its not just the holy Harami Cross thats bullish today Bolton, Mystic Meg is bullish today as well:
"The moon is in your talk chart and it is suddenly much easier to get in touch with the people you want to talk to, including for work reasons."

Hopefully we have stabilised at the 0.07p level.

For me the crucial news this week was Andrew's twitter post of the article stating Baowu Steel & partners were eyeing up a selected iron ore 'target'. That article was tweeted for a reason & frankly with Simandou now taken, Zanaga is the last remaining top ten global iron ore resource available. Sometimes 2+ 2 does equal 4.

The Chinese are pursuing a medium/long term plan to secure the future resources they will need up to 30 +years out, by definition those long term plans are not swayed by short term factors like the latest Chinese epidemic or US presidential elections. Short of a nuclear war there are few 'issues' that will prevent them carrying out their grand plan.

Scary cant remember how long you have been in NFX, I have been in 2 years now. The pleasant reality is that Dan & Co have a plan which they are sticking to & which is working. But like everybody in the real world they are dependent on third parties who may not perform & behave as they 'should' - this is going to cause hiccups & short term problems. I invested originally intending to hold until an agreed buyout - still looks good to me & gradually we are being de-risked on all fronts!

The only meaningful 'writing on the wall' was the RNS of 11 December announcing the long awaited crucial agreement with COIDIC. The Chinese are long term investors looking out to secure commodity supplies 10-30 years hence their Simandou investment & their clear interest in ZIOC.

Cdnoil. The issue of why oh why our team is not sub contracting in their down time is a big ongoing issue. What do they do all day for the last 2-3 years with OPL226 & other minor ventures taking up what some 10-20% of their time?

Not a bad idea DM, the problem with these 'pump & dump' merchants is that they disrupt attempts by longstanding investors to discuss actual issues. ie I was trying to see if others thought the year end figures might potentially delay an alt finance announcement.